Delticom: Strong Q3 revenues growth
In the third quarter the company generated revenues of around EUR 80 million - well above the Q3'09 revenues of EUR 62.4 million (+28%). EBIT improved in the reporting period to EUR 5.8 million (Q3'09: EUR 4.5 million). This equates to an EBIT margin of 7.3% (Q3'09: 7.3%).
Many motorists change over from summer to winter tyres only after winterly road conditions start to set in. To date, however, it has rarely snowed, and only at high altitudes. Should the forthcoming winter in Europe turn out to be as snowy as in 2009, some tyre brands and models might become scarce. In Germany, additional shortages are likely in case the use of winter tyres is regulated by law as of November.
The Management Board is confident that Delticom is able to achieve the target of 9% EBIT margin for the full year, even if demand for winter tyres receives no further tailwind from snowy weather or new statutory regulations. In view of the good business trends to date, Delticom anticipates 2010 revenue growth of at least 15% year-on-year (previously: at least +10%).
Delticom AG will publish its full financial statements for the first nine months of 2010 on 9 November 2010. The report can be downloaded from the website www.delti.com within the "Investor Relations" area.
About Delticom AG
Delticom, Europe's leading online tyre retailer, was founded in Hanover in 1999. With 112 online shops in 35 countries, the company offers its private and business customers an unequalled assortment of excellently priced car tyres, motorcycle tyres, bicycle tyres, truck tyres, bus tyres, special tyres, rims, complete wheels (pre-mounted tyres on rims), selected replacement car parts and accessories, motor oil and batteries. The independent website reifentest.com contains impartial information about tyre tests and helps the customers choose from more than 100 tyre brands and more than 25,000 tyre models. Delticom delivers either directly to the customer's home address, or to one of more than 25,000 service partners - affiliated garages which take delivery of tyres and then install these on the customer's vehicle. Delticom's Wholesale division also sells tyres to wholesalers domestically and abroad.
On the Internet at: www.delti.com
Selected online shops: www.reifendirekt.de, www.123pneus.fr, www.mytyres.co.uk, www.reifendirekt.ch